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West Ashley Library
9 a.m. – 7 p.m.
Phone: (843) 766-6635
Main Library
9 a.m. - 8 p.m.
Phone: (843) 805-6930
Folly Beach Library
Closed for renovations
Phone: (843) 588-2001
John L. Dart Library
9 a.m. – 7 p.m.
Phone: (843) 722-7550
St. Paul's/Hollywood Library
9 a.m. - 8 p.m.
Phone: (843) 889-3300
Mt. Pleasant Library
9 a.m. – 8 p.m.
Phone: (843) 849-6161
Dorchester Road Library
9 a.m. - 8 p.m.
Phone: (843) 552-6466
Edgar Allan Poe/Sullivan's Island Library
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John's Island Library
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McClellanville Library
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Edisto Library
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Wando Mount Pleasant Library
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Phone: (843) 805-6888
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Hurd/St. Andrews Library
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Phone: (843) 805-6892
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Phone: (843) 884-9741
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Phone: (843) 805-6909
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Economic Efficiency in Law and Economics (Book).
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- Author(s): Kuperberg, Mark
- Source:
Journal of Economic Literature. Mar2003, Vol. 41 Issue 1, p222. 2p.- Subject Terms:
- Source:
- Additional Information
- Subject Terms:
- Subject Terms:
- Abstract: 'Economic Efficiency in Law and Economics' by Richard O. Zerbe, Jr., is a very ambitious book with a rather unpretentious title. The reader gets some inkling that this is no ordinary law and economics text when the author introduces the concept of KHZ efficiency, as in Kaldor-Hicks-Zerbe efficiency. KHZ efficiency is the central organizing concept of the book, and the book's worth stands or falls on the usefulness of this concept. Before exploring KHZ efficiency in depth, Zerbe discusses the distinctions between equivalent variation, compensating variation, willingness to pay, and willingness to accept, and a detailed analysis of the strengths and weaknesses of the Kaldor-Hicks concept of efficiency. He also makes a useful distinction between transaction costs that relate to changing legal rules.
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